Looking ahead, the GBP/INR exchange rate may stumble again tomorrow following the publication of the Confederation of British Industry’s (CBI) latest retail figures.

Economists forecast that the CBI’s Distributives Trade Index will have slid from 20 to 12 in January as consumers cut back after spending big on Christmas.

Meanwhile, a lull in domestic data will likely see any movement in the Indian Rupee continue to be driven by the strength of the US Dollar, with any further weakness in USD likely to help bolster INR.

Adam Solomon

Adam joined the team at TorFX soon after graduating from University in 2005 with a degree in Journalism. Since then Adam has advanced to become both Head of Trading and Head of Treasury. His keen interest in the currency market and knowledge of what drives exchange rates makes him perfectly positioned to produce regular market updates focused on the movements of the major currencies.

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TorFX News is your definitive destination to read the latest news about the foreign exchange market. We specialise in reporting on all of the world’s major currencies including the British Pound, the Euro and the US Dollar with the aim of helping you to decide when to trade and get the best deal on your monetary transfers.